Höegh LNG and Prosafe Production have today executed an MOU for the long term
cooperation within the LNG FPSO segment. The cooperation will use as its basis
the FEED work already developed by Höegh LNG , and for each specific project
Höegh LNG will be responsible for design, project execution, completion,
operation and funding, whilst Prosafe Production will, in cooperation with HLNG,
be responsible for the operation and maintenance of the LNG FPSO's, and
assisting Höegh LNG during project execution and completion.

Says Sveinung J. Støhle, President & CEO of Höegh LNG: "This is a very important
milestone for the successful development of our first LNG FPSO project, the
combined forces of Höegh LNG's cryogenic and maritime LNG experience, coupled
with Prosafe Production's significant experience from the development, operation
and maintenance of its fleet of oil FPSO's being one of the top 3 companies in
the market, will give our LNG FPSO project an added value which we believe will
greatly benefit our project and ultimately our customers."

Says Bjørn E. Henriksen, President & CEO of Prosafe Production: "We acknowledge
Höegh LNG's unique position with respect to becoming a leading LNG FPSO
provider, based on their mature technical solution, strong commitment and
outstanding qualifications. Prosafe Production is very pleased to join forces
with Höegh LNG within the FLNG segment, and considers the agreement to be of
significant strategic value in positioning the company in a very interesting
emerging market."

About Prosafe Production

Prosafe Production is a leading owner and operator of Floating Production,
Storage and Offloading vessels (FPSOs). Prosafe Production has 25 years of
operational experience from several of the world's largest oil and gas
provinces. The company has a good operational uptime track record and possesses
a range of proprietary FPSO-related technologies. Prosafe Production operates
globally and employs approximately 1,000 employees from more than 40 countries.
Headquartered in Limassol, Cyprus, Prosafe Production is listed on the Oslo
Stock Exchange with ticker code PROD. Please refer to www.prosafeproduction.com
for more details.

About Höegh LNG

Höegh LNG is a fully integrated ship-owning company offering long-term floating
production, transportation, re-gasification and terminal solutions for Liquefied
Natural Gas (LNG). The company operates a fleet of five LNG carriers including
one innovative Shuttle and Re-gasification Vessel (SRV) and has one SRV on order
for delivery this year. In addition to transporting the LNG, these vessels will
act as floating terminals while delivering the natural gas to the market. Höegh
LNG's strategy is to add value to its customers by broadening its service scope
to include solutions for floating production, re-gasification terminals and
delivery of natural gas. The company is developing two deepwater terminals based
on SRV technology in Florida and the UK. In addition to the head office
centrally located in Oslo, Höegh LNG has established presence in London (UK) and
Tampa, Florida.

Contacts:

Höegh LNG:

Sveinung Støhle, President and CEO, Höegh LNG, +47 4003 9969

Geirmund Aasbø, Vice President, Project Execution & Media Relations, Höegh LNG,
+47 4003 9685

Prosafe Production:

Bjørn E. Henriksen, President and CEO, Prosafe Production, +31 610532543

Sven Børre Larsen, EVP & CFO, Prosafe Production, +65 9657 2590

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

[HUG#1376599]

Höegh LNG and Prosafe Production team up for the LNG FPSO segment